It's no secret that Newt Gingrich pretty much ran his campaign into bankruptcy.
Last reports put the total amount of debt at about $5 million, which for a Presidential campaign is ... impressive. But, it looks like Newt's money troubles go further than just his failed Presidential bid.
It seems that his personal coffers are running on empty as well.
This month, Newt's former healthcare thinktank, Center for Health Transformation, which filed for Chapter 11 in April, began bankruptcy proceedings. At one point, the group was raking in cash, but when Newt left to run his campaign, it started losing clients. And without clients, well, it obviously had trouble making money.
According to bankruptcy court records, the defunct group owes 64 creditors almost $10 million, yet the company's current assets, which include office furniture, books, and promotional videos, add up to $78,000.
The biggest creditor owed? Newt, who sold his partnership for a $6.4 million promissory note to the other partners.
Oh, and personal financial documents filed by Newt indicate the promissory note is his greatest asset.
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